Biological Signal Processing Ltd Signs Agreement With CMP Trading for Distribution of HyperQ(TM) Stress System, for Early Detection of Ischemic Heart Disease, in South Korea CMP Will Purchase at Least 227 HyperQ(TM) Systems During the Term of the Agreemen
Published: Nov 10, 2008
TEL AVIV, Israel, November 10 /PRNewswire-FirstCall/ -- BSP (Biological Signal Processing Ltd.) (http://www.bsp.co.il/), an Israeli company that develops and markets innovative systems for non-invasive diagnosis and monitoring of Ischemic Heart Disease (IHD), announced that it has signed an exclusive distribution agreement with CMP Trading Co., Ltd to distribute HyperQ(TM) Stress System in South Korea.
CMP has undertaken to purchase at least 227 HyperQ(TM) systems through the end of 2011. The number of systems may change subject to the date of receipt of regulatory approval from the Korean Food and Drug Administration, an essential step towards the marketing and use of the system in Korea. BSP estimates that the price per system to CMP will vary from about US$ 15,000 to roughly US$ 20,000, dependent on the system configuration. Accordingly, the total revenues resulting from this agreement are expected to be a minimum of US$ 3,400,000.
Mr. Chan Min Park, President of CMP Trading said, "We are extremely encouraged by the very positive response to the HyperQ technology from medical centers. We believe that BSP's product can change the way ischemic heart diseases are being diagnosed."
"This second distribution agreement consolidates BSP's position in the Asia-Pacific markets. We view Korea as one of the most receptive countries to innovative technologies," said Dr. Amir Beker, BSP's founder and CEO.
Dr. Beker adds, "We are grateful for the ongoing vote of confidence in our HyperQ technology by leading physicians in Asia and the United States. We plan to continue with the installment of our HyperQ system into top medical centers."
This week, BSP is introducing its new version of the HyperQ(TM) System at the 2008 conference of the American Heart Association in New Orleans.
BSP - background
BSP is dedicated to providing novel, risk free and highly reliable solutions for the diagnosis and monitoring of Ischemic Heart Disease. BSP was founded in 2000 by Dr. Amir Beker and Mr. Ariel Landau and has completed a successful IPO in mid-2006 and its shares are traded on the Tel Aviv Stock Exchange.
CONTACT: Contacts: Dr. Amir Beker, CEO, Dr. Neri Malka, Head of Clinical
Marketing, Tel: +1-888-669-1671; +972-3-647-4840